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Quarterly Results (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results (Unaudited)
Quarterly Results (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarters ended
December 31
 
 
 
Quarters ended
September 30
 
 
 
Quarters ended
June 30
 
 
 
Quarters ended
March 31
 
In millions, except per share data
 
2016

 
2015

 
 
2016

 
2015

 
 
2016

 
2015

 
 
2016

(1) 
2015

Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Sales by Company-operated
restaurants
 
$
3,652.8

 
$
4,030.2

 
 
$
3,972.1

  
$
4,282.9

  
 
$
3,916.6

 
$
4,261.1

 
 
$
3,753.5

 
$
3,914.1

Revenues from franchised
restaurants
 
2,376.1

 
2,311.1

 
 
2,452.0

  
2,332.2

  
 
2,348.4

 
2,236.6

 
 
2,150.4

 
2,044.8

Total revenues
 
6,028.9

 
6,341.3

 
 
6,424.1

  
6,615.1

  
 
6,265.0

 
6,497.7

 
 
5,903.9

 
5,958.9

Company-operated margin
 
616.9

 
611.6

 
 
732.6

  
675.2

  
 
668.5

 
664.8

 
 
578.2

 
559.8

Franchised margin
 
1,941.3

 
1,894.9

 
 
2,014.4

  
1,916.1

  
 
1,917.5

 
1,825.6

 
 
1,735.3

 
1,641.2

Operating income
 
1,969.0

 
1,880.4

 
 
2,137.3

  
2,030.3

  
 
1,857.9

 
1,849.3

 
 
1,780.3

 
1,385.5

Net income
 
$
1,193.4

 
$
1,206.2

 
 
$
1,275.4

  
$
1,309.2

  
 
$
1,092.9

 
$
1,202.4

 
 
$
1,124.8

 
$
811.5

Earnings per common
share—basic
 
$
1.45

 
$
1.32

 
 
$
1.52

  
$
1.41

  
 
$
1.27

 
$
1.26

 
 
$
1.27

 
$
0.84

Earnings per common
share—diluted
 
$
1.44

 
$
1.31

 
 
$
1.50

  
$
1.40

  
 
$
1.25

 
$
1.26

 
 
$
1.25

 
$
0.84

Dividends declared per
common share
 
$
—

 
$
0.89

 
 
$
1.83

(2) 
$
0.85

 
 
$
0.89

 
$
0.85

 
 
$
0.89

 
$
0.85

Weighted-average
common shares—basic
 
823.7

 
914.1

 
 
841.4

  
930.3

  
 
864.0

 
953.2

 
 
888.9

 
960.6

Weighted-average
common shares—diluted
 
829.7

 
919.9

 
 
847.7

  
934.8

  
 
871.2

 
957.6

 
 
896.3

 
965.5

Market price per common
share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
High
 
$
124.00

 
$
120.23

 
 
$
128.60

  
$
101.88

  
 
$
131.96

 
$
101.08

 
 
$
126.96

 
$
101.09

Low
 
110.33

 
97.13

 
 
113.96

  
87.50

  
 
116.08

 
94.02

 
 
112.71

 
88.77

Close
 
121.72

 
118.14

 
 
115.36

  
98.53

  
 
120.34

 
95.07

 
 
125.68

 
97.44


(1) The Company elected to early adopt ASU 2016-09, “Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” in the second quarter 2016, which required reflection of any adjustments as of January 1, 2016. As such, the quarter ended March 31, 2016 presented here has been recasted to include the impact of adoption of the recognition of excess tax benefits as a reduction to the provision for income taxes of $26.2 million, and a benefit to earnings per common share - basic and diluted of $0.03 and $0.02, respectively.
(2) Includes an $0.89 per share dividend declared and paid in third quarter, and a $0.94 per share dividend declared in third quarter and paid in fourth quarter.